Globalisation reduces the production on cost .How
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Globalisation enables goods to be produced in different parts of the world. This greater specialisation enables lower average costs and lower prices for consumers. Domestic monopolies used to be protected by a lack of competition. However, globalisation means that firms face greater competition from foreign firms.
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Globalisation is a complex and controversial issue. This is a look at some of the main benefits and costs associated with the greater globalisation of the world economy.
The process of increased integration and co-operation of different national economies. It involves national economies becoming increasingly inter-related and integrated.
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